Walmart and Flipkart today announced the signing of a Memorandum of Understanding (MoU) with the National Small Industries Corporation (NSIC) to jointly accelerate capacity building for micro, small and medium enterprises (MSMEs) across India.
The MoU was signed at the Walmart Vriddhi Seller Summit in New Delhi, an event marking the milestone of 20,000 MSMEs having completed their training under the Walmart Vriddhi Supplier Development Program (Walmart Vriddhi), of which, Swasti is a program partner. The event was attended by Narayan Rane, Union Minister for Micro, Small and Medium Enterprises, Government of India, and Gaurang Dixit, Chairman-Cum-Managing Director, National Small Industries Corporation.
The partnership enables access to the Vriddhi program, which offers a complete learning platform with training provided free of cost, along with access to expert assistance required to grow and expand their businesses. The Vriddhi program also includes training, seminars and mentoring sessions conducted regularly for MSMEs. Tens of thousands of MSMEs have registered for the program from metros and Tier II and III cities across India, and over 20,000 MSMEs have completed the program successfully.
Narayan Rane, Minister of Micro, Small and Medium Enterprises of India, said, “I’m glad to see that Walmart’s Vriddhi program has enabled a large number of Indian MSMEs to expand, boost their production, and experience growth. The Indian MSME sector currently comprises 6.3 crore MSMEs that employ more than 11 crore people. We look forward to Walmart’s continued support to the growing MSME sector in the country.”
Gaurang Dixit, Chairman-Cum-Managing Director, at NSIC, said, “NSIC is committed to the growth and development of a robust MSME sector in India. We look forward to working with Walmart Vriddhi to help MSMEs under the program get access to our schemes and make the learning resources of Vriddhi available to MSMEs under NSIC. Through this partnership, MSMEs across the country can get the necessary support required to further expand their businesses nationally and across the globe.”
Walmart Supplier Development Senior Vice President Jason Fremstad, said, “Walmart is deeply proud to announce the graduation of over 20,000 MSMEs from the Vriddhi program today. We are delighted to play a role in catalyzing the entrepreneurial spirit in India and supporting the growth ambitions of small business owners with this program. With our ongoing commitment to triple exports from India by 2027 to $10 billion annually, we look forward to supporting more small businesses in their efforts by providing potential access to online and offline markets in India and globally.”
Flipkart Group Chief Corporate Affairs Officer Rajneesh Kumar, said, “We are excited and committed to being part of India’s economic growth story by helping millions of local businesses adopt e-commerce via Walmart Vriddhi and Flipkart’s marketplace. Technology and innovation will play a critical role in the growth of small businesses in India. With that mission, our efforts are focused on helping them digitize their business and explore growth opportunities through e-commerce.”